Simplified Cash Flow Management Helps Food Company Reallocate 40% of Employees to Critical Tasks

Impact Achieved

85%

Auto-Aggregation of E-mail & Web Remittances

40%

Resources Reallocated to Critical Tasks

88%

Auto-Aggregation of Check Remittances

I think now with HighRadius we are able to streamline everything, and we can have one person take care of four brands. It makes it a lot more efficient and a lot less time-consuming for my employees.

case-study-speaker

Guillermo Olivares

Manager, Accounts Receivable

Sovos Brands

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About Sovos Brands

Sovos Brands, one of the fastest growing food brands in the US, achieves same day cash posting while eliminating expensive bank lockbox fees with HighRadius.

Region:

North America

Revenue:

$739M

Employees:

500+

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Top Challenges

  • Manual cash posting for huge volume of invoices resulting in immense workload on the team.
  • Manual remittance aggregation from multiple sources like web-portals and emails complicated the procedure.
  • Manual key-in of remittance data and check stub details into excel files for e-payments and checks.

Business Benefits

  • Automated invoice matching freeing up cash app employees to focus on other tasks.
  • Automated remittance capture from various sources like web portals, emails and customer portals.
  • OCR engine enables the accurate capture of remittance data from check stubs, reducing dependency on the bank to key in data.

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